Barclays PLC Raises Stock Position in Mitek Systems, Inc. (NASDAQ:MITK)

Barclays PLC lifted its holdings in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 335.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,209 shares of the software maker's stock after purchasing an additional 60,256 shares during the period. Barclays PLC owned about 0.18% of Mitek Systems worth $679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. nVerses Capital LLC lifted its holdings in Mitek Systems by 25.5% during the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker's stock valued at $55,000 after purchasing an additional 1,300 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Mitek Systems in the 3rd quarter valued at about $60,000. Squarepoint Ops LLC acquired a new stake in Mitek Systems in the 2nd quarter worth about $138,000. Intech Investment Management LLC acquired a new stake in Mitek Systems in the 3rd quarter worth about $117,000. Finally, SG Americas Securities LLC purchased a new stake in Mitek Systems during the 3rd quarter worth approximately $148,000. Institutional investors and hedge funds own 83.64% of the company's stock.

Insider Activity

In other news, insider Michael E. Diamond sold 4,544 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total transaction of $41,304.96. Following the completion of the transaction, the insider now directly owns 166,632 shares in the company, valued at approximately $1,514,684.88. This represents a 2.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher H. Briggs sold 3,320 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total transaction of $30,145.60. Following the completion of the sale, the senior vice president now owns 65,353 shares in the company, valued at approximately $593,405.24. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,699 shares of company stock valued at $152,140 in the last 90 days. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

MITK has been the subject of several research reports. StockNews.com upgraded Mitek Systems from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 25th. HC Wainwright upped their target price on shares of Mitek Systems from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Mitek Systems has a consensus rating of "Buy" and a consensus target price of $12.63.

Mitek Systems Price Performance

Shares of NASDAQ:MITK traded up $0.07 during midday trading on Friday, hitting $10.04. The company had a trading volume of 111,071 shares, compared to its average volume of 495,917. The business's 50-day simple moving average is $9.97 and its 200-day simple moving average is $9.82. The stock has a market cap of $432.41 million, a price-to-earnings ratio of 167.42 and a beta of 1.06. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.39 and a quick ratio of 4.39. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings results on Monday, December 16th. The software maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.17 by $0.16. Mitek Systems had a return on equity of 16.64% and a net margin of 1.90%. The business had revenue of $43.22 million for the quarter, compared to analyst estimates of $41.30 million. During the same quarter in the previous year, the firm earned $0.15 EPS. The company's quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts predict that Mitek Systems, Inc. will post 0.63 earnings per share for the current year.

About Mitek Systems

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.